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Property summary
This exceptional investment opportunity presents a 3,910 square foot executive office condo located at 618 E Ramseur St, Durham, NC 27701. The property, a beautifully renovated historic structure (originally built in 1930 and completely updated in 2020), offers a compelling sale/leaseback arrangement with a 10-year absolute NNN lease in place, ensuring minimal owner responsibilities. The building boasts 100% occupancy and a strong net operating income (NOI) of $142,715, translating to an attractive 6.00% capitalization rate. This Class B property is zoned DD-S1 and features ample on-site surface parking. The single-tenant lease provides consistent cash flow and a secure investment. Its prime downtown Durham location offers unparalleled convenience, just minutes from Duke University, Research Triangle Park, the new Apple RTP campus, and RDU Airport. The surrounding area is vibrant, with numerous restaurants, breweries, and easy access to the Durham Bulls Ballpark. This 39% condo interest in the aggregate property represents a rare opportunity to acquire a high-performing asset in a thriving market. The asking price is $2,400,000.
Property profile
VerifiedCap rate & NOI
Current use
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Real Estate Agency
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The Downtown Design (DD) District is established to encourage bicycling, pedestrian, and transit-orienteddevelopmentthrough regulations appropriate to the downtown area. It focuses on the form of the private and public r…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
DD-S1 · Durham, NCThe Downtown Design (DD) District is established to encourage bicycling, pedestrian, and transit-orienteddevelopmentthrough regulations appropriate to the downtown area. It focuses on the form of the private and public r…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The Downtown Design (DD) District is established to encourage bicycling, pedestrian, and transit-orienteddevelopmentthrough regulations appropriate to the downtown area. It focuses on the form of the private and public r…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for DD-S1 in Durham, NC.
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